11 Best Ethereum (ETH) Cloud Mining Sites in 2023

Review and compare the features of the top Ethereum (ETH) Cloud Mining Sites for mining Ethereum for free or at a cost across the cloud:

Cloud mining sites let you mine Ethereum and other cryptocurrencies without having to buy dedicated hardware, such as GPUs, ASICs, CPUs, FPGA, and dedicated software.

All you have to do is signup, deposit money, purchase a mining package, and watch for profits as the company does everything for you. This rids you of all the costs, complicated setup requirements, and maintenance tasks that you would do for the mining equipment. However, the best cloud mining sites and packages are not free.

The best Ethereum cloud mining sites are not hard to come by, though. They involve renting hash rates or computing power generated from their cloud-hosted mining machines. That means they invested in GPUs and ASICs rigs.

This tutorial discusses the best Ethereum cloud mining sites and how to mine Ethereum for free or at a cost over the cloud.

How Cloud Mining Works

Cloud mining companies are usually large mining entities controlling a large number of mining resources. They have a partnership with manufacturers to buy mining hardware at a lower cost than retail prices. Then they sell mining contracts. Because of this and the economics of scale, they can lower the cost of operations, storage, and acquisition.

Some companies also work in cloud mining pools. In it, they pool hash rates contributed by individual customers who point their miners to the company’s mining servers. Then the companies either have their pools or point their hash rates to other pools to mine crypto. These companies charge commissions and pay mining rewards to the people contributing to the hash rates.

Customers need to sign up with these companies and buy the hash rates in the form of mining contracts or set up their mining hardware to sell or point the hash rate to the pool’s servers. Customers then watch mining rewards and returns grow on their accounts created by the companies.

If the customer has mining hardware, they need to do the installations and setups, maintain them to keep efficiency high, install required mining software, and update the drivers.

Ethereum profitability is now $0.0241 per 1 mH/s:

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Eth Cloud Mining FAQs

Q #1) Can I mine Ethereum on the cloud?

Answer: The answer is yes. Cloud mining Ethereum can be done with or without mining equipment like a PC, GPU, and ASIC. One alternative is to search for legit companies that sell legit cloud mining Ethereum contracts that you can purchase and watch your passive income grow.

Be sure to check how much they pay for the returns and compare them with the package costs. These companies own their mining machines.

Alternatively, you can buy a GPU or ASIC and connect the hash rate to cloud mining pools via mining software. These companies pool together hashrates on their mining servers and mine cryptos to pay rewards to owners of the hashrates depending on how much hash rate a user contributes.

They charge a commission rather than selling mining packages. Other companies support the buying and selling of hashrates from peer users.

Q #2) Is ETH cloud mining profitable?

Answer: Yes, depending on the package and package costs or mining hash rates you get. You can either choose proof of stake Ethereum mining or staking and both are profitable. To ensure you are investing profitably in Eth cloud mining, make sure you are contracting a genuine and legit company.

Second, check the interest, payment rates, or payouts. You can also search online on how to mine Ethereum for free and run tests with an Eth cloud mining service.

Q #3) What is cloud mining Ethereum?

Answer: Ethereum cloud mining involves buying Ethereum cloud mining contracts and earning passive income from the contract without having to purchase mining equipment. In this case, you simply identify a legit mining service and see if they support cloud mining of the coin you want to mine, then purchase the mining contract.

In this case, there won’t be mining equipment to maintain or drivers and software to update. An alternative is to buy mining equipment like PC, GPU, and ASIC, then connect it to an Eth cloud mining pool that combines hashrates from multiple users or machines to multiply mining incomes and pay the hash rate owners while charging a commission.

There is a third option provided by hashrate marketplaces where you purchase hash rates from peers and employ them to mine yourself or have the company forward it to their mining pool server and pay you regular mining income.

Q #4) What is the cheapest way to mine Ethereum?

Answer: Ethereum cloud mining contracts are the easiest and cheapest way to mine Ethereum. There may be some light for those searching for ways to mine Ethereum for free, but true cloud mining that earns a quick profit costs money too.

Once you land on a genuine and trusted company that sells these contracts, you can buy and watch passive incomes grow without buying expensive GPUs and ASICs.

That said, GPU and ASIC mining may be profitable although more expensive. With a good hash rate and a good mining pool to which you connect the GPU or ASIC, this form of mining is the winner. Do your research, for instance, using online mining calculators and software to find which crypto is profitable to mine with which device at a given time.

Q #5) Which cloud mining platform is the best?

Answer: Genesis Mining, Hashgains, IQ Mining, TrustMining, NiceHash, Hashlist, Hashshiny, ECOS, Bitfly, Slush Pool, and Cruxpool are mentioned as some of the best cloud mining platforms and cloud mining pools out there. You can either buy a mining package from them or connect your own mining devices to their mining pool servers.

List of Top Ethereum Cloud Mining Websites

Popular cloud mining Ethereum lists:

1. Genesis Mining
2. Hashgains
3. IQ Mining
4. NiceHash
5. Hashshiny
6. ECOS Mining
7. Slush Pool
8. Cruxpool

Comparison Table of Some Best Cloud Mining Ethereum

Detailed review:

#1) Genesis Mining

Best for mining farms and those with multiple rigs.

Genesis Mining lets users purchase mining contracts for different cryptocurrencies. Mining starts immediately after the user buys a contract. Ethereum cloud mining contracts cost from $525 for a 12 month contract giving off 17.50 mega hashes/second to $4,498.50 for a 150mH/s year mining contract. The cost is around $29 per mega H/s.

Genesis Mining, established in 2013, is headquartered in Hong Kong and once built the first mining farm in Eastern Europe. Currently, it services over 2 million customers from 100+ countries all over the world. The company’s mining hardware is distributed across Iceland, Sweden, Norway, and many other places.

Features:

• Zero maintenance fees. Only withdrawal fees are on top of the package cost.
• Daily payout of mining proceeds to your wallet address.
• Customer service.
• Pay using Visa, Mastercard, and crypto.
• In-house developed mining management software and tools.
• At least two or up to four pools are used in mining crypto.
• Advanced Auto-Allocation to enable mining in over one crypto at a time.
• Monitor earnings, hash rates and packages from the dashboard.

Pros:

• Advanced Auto-Allocation to enable mining of more than one crypto at a time.
• You can also devise your custom mining plan as per the desired hash rate or pricing.
• It supports 6 other mining algorithms capable of supporting mining 10 cryptocurrencies.

Cons:

• It’s a bit costlier than other services.

Verdict: Genesis Mining is one of the oldest cloud mining sites with competitive Ethereum mining offers, save that the service is quite expensive compared to others and the cloud mining company has several negative reviews online.

Fees/Cost: $29 per mH/s. Minimum dependent on the contract package price. Ranges from $499 to $4,498.50.

Website: Genesis Mining

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#2) Hashgains

Best for low-cost cloud mining contracts and for beginners

Ethereum cloud mining contracts at Hashgains start from $125 for 5 MH/s mining hash rate up to $1,250 for 50 mH/s and the contracts last for 24 months. Hence, it is quite cheap compared to Genesis Mining cloud mining platform, but almost the same value per hash rate. Another benefit over Genesis Mining is that its packages seem many.

The company’s parent firm Cyfuture has 15 years of experience providing data center services to 10 Fortune 500 companies.

According to the website, the company’s mining data centers utilize green energy. The mining farms are located in China and India. Mining will start within 24-72 hours of the payment being verified. The rewards will be transferred to your wallet once the minimum mining threshold is reached. However, the process is not automated currently.

Features:

• The minimum payout for Ethereum mined is 0.5 Eth or $250.
• Maintenance and support costs – $0.00032435 /GH/s/day.
• Technical assistance in addition to customer support.
• Track earnings and hash rates on your dashboard.
• Pay for mining plans using credit cards, debit cards, bank transfers, crypto, and PayPal.

Pros:

• Customers can purchase different plans for different cryptos and run them concurrently.
• They have hundreds of security professionals ready to offer assistance when needed.
• Cheap.

Cons:

• Payouts are not automated.

Verdict: Hashgains features contracts with one of the lowest minimum mining investments in the market at $125. Also favorable for short-term contracts lasting for a day.

Fees/cost: $29 per mH/s. Starting from $125 for Topaz plan, $625 for Ruby plan (25 mH/s), $2,500 for 100 mH/s, all of which last for 24 hours and have a maintenance fee of $3.2435 per GH/s/day.

Website: Hashgains

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#3) IQ Mining

Best for low-cost cloud contracts and miners who like trading crypto, forex, options, CFDs, and mining contract loans

IQ Mining has features beyond selling the mining contracts. It incorporates cryptocurrency and options trading with margins. Hence, users can earn from mining and multiply their earnings by trading them through speculation and margined shorting.

For those seeking Eth cloud mining contracts, the website offers daily payouts to BTC and ETH. You can also opt out of pro-mining contracts that pay an extra 20% per annum.

IQ Mining’s contract costs $0.709 per 0.1 mH/s which is also the minimum investment for that contract. The contract has a maintenance fee of $0.00013 per 0.1mH/s per day. According to their website, this contract offers up to $1,515 potential income.

Founded in 2016, IQ Mining is run by a team of blockchain and IT engineers who understand cryptocurrencies. The company’s data centers are located in Canada, Russia, Iceland, Georgia, Algeria, and China.

Features:

• Trade cryptocurrency by copying trades from successful traders. The same applies to trading forex, options, and CFDs.
• Pledge your contract, and get trading funds worth 100% of the contract cost, trade those funds to earn money on the platform, and pay back the contract amount.
• Knowledge based on Ethereum mining.
• Customer support.

Pros:

• Cryptos, CFDs, forex, and options trade by margins.
• Low minimum investments.
• Pro mining contracts for extra income.
• Pledge mining contracts without capital.

Cons:

• Has multiple negative reviews and a low customer rating online.

Verdict: At a cost of just $0.709 per 0.1 mH/s, it is one of the cheapest Ethereum mining contracts and also comes with a compelling contract pledging service.

Fees/cost: About $0.675 per 0.1 mH/s and a maintenance fee of $0.00013 per 0.1mH/s per day for bronze, silver, and gold; custom packages are available with extra features.

Website: IQ Mining

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#4) NiceHash

Best for peer-to-peer trading of hash rates, bank payouts, and mining farms

NiceHash is a hash rate trading marketplace and mining hosting company. Through it, you can connect your miners to sell hash rates to peer-to-peer buyers or deposit crypto and purchase a mining package to mine different cryptocurrencies. To sell the hash rate, simply install NiceHash software on your PC and use its hash rate or connect to a GPU.

When a buyer wants to buy hash rates, he or she will simply browse the packages and select the favorite crypto they want to mine and the pool they desire to connect to. They then set a price and place the order.

The seller (any miner who has connected their PC or GPUs) who completes the order is paid for the hash rate and NiceHash sends it to the mining pool while the buyer continues to receive mining rewards from the hash rate bought.

NiceHash, which started in 2013 and is based in the British Virgin Islands, also supports mining with ASICs. The person mining with ASIC needs to point the computing power to the NiceHash Stratum server.

Features:

• In-house software for mining farm management.
• 0.001 BTC minimum payout or equivalent.
• Mine Bitcoin, Ethereum, Litecoin, Dogecoin, and other cryptos.
• The mining monitoring app allows for managing rigs on the go, managing crypto wallets, and monitoring other things.

Pros:

• Hash rate peer-to-peer trading.
• In-app trading platform to sell and buy crypto.
• Remote monitoring and management of mining.
• Fiat withdrawals.

Cons:

• Considerably an expensive option for cloud mining.

Verdict: Definitely one of the oldest mining companies on the Internet and trusted by thousands of users. It has made its services more suitable for mining farms and companies, but individual users can utilize the platform to trade mining hash rates.

Fees/Cost: 0.2258 BTC per 1 mH/s per day. The new order fee – 0.00001 BTC, buying hash power – 3%. Selling hash power 2%. Deposits and withdrawals from the wallet vary from one crypto to another but are free for Euro deposited to a bank account. Administrative costs for wrong addresses and deposits are charged 10%.

Website: NiceHash

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#5) Hashshiny

Best for DeFi mining.

Hashshiny claims to be a cloud mining service that allows users to buy hash rates and mine remotely. Although the company pays users who invest money in mining plans, it has been flagged with several scammy issues.

Users complain that they finally get way below what they invested. Other complaints include high transaction fees and unjustified deductions from the amount mined.

The company sells Ethereum cloud mining plans for $1.20 per 100 kH/s with the contract lasting for 2 years. The minimum hash rate you can buy is 100 kH/s. The maintenance fee for this plan is $0.0018 per 100 kH/s/day.

According to the website, the device used to mine for this plan is GTX 1080. After you buy hash rate, you can toggle the mining button on to start mining or off to stop.

Features:

• Free trial Bitcoin mining hash rate (5 tH/s) when you register.
• The withdrawal minimum for ETH is 0.004 ETH.
• Pay by crypto, PayPal, credit card, WebMoney, DotPay, Doku, Boleto, Alfamart, and European Bank transfer.
• Payout in crypto.
• My multiple currencies – BTC, ETH, Litecoin, Dash, etc.
• Mobile apps – Android and iOS to monitor mining activity and hash rates.
• Track the exchange rate for each crypto.
• DeFi mining.
• Buy Bitcoin and Eth with a credit card.

Verdict: Hashshiny is also one of the cheapest cloud mining services for Ethereum users at $1.20 per 100 kH/s and allows you to buy for very low startup capital.

Fees/Cost: $0.0018 per 100 kH/s/day maintenance fee on top of the mining plan cost.

Website: Hashshiny

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#6) ECOS Mining

Best for miners who are also traders and investors

ECOS combines the goods of crypto cloud mining with the trading platform (200 digital assets supported), staking, ECOS debit card to facilitate paying goods and services using crypto, wallet (for crypto and NFT storage), and portfolio investments. It lets people buy Bitcoin mining contracts and earn passive income from them.

The platform does not natively support Ethereum cloud mining, but you can pay for the Bitcoin mining contract with Ethereum, Litecoin, Bitcoin, or XRP. You can also mine BTC or deposit BTC and other cryptos and exchange them instantly for Ethereum on the platform.

In addition to buying Bitcoin mining contracts, you can also buy an entire miner (currently only Antiminer S19J Pro 100 TH/s available at a purchase price of $14,343 per unit) and have it hosted for you.

In this case, you pay the hosting fee ($210 per one Antiminer S19J Pro available) for it to be hosted by the company, and then an installation cost ($650 per one Antiminer S19J Pro available), and you can start earning rewards when it starts mining. Users choosing this option can purchase as many units as they want to make up a mining rig.

ECOS was started in 2017 and claims to have 100,000+ clients as of 2023.

Features:

• The minimum investment is $149. Minimum withdrawal is 0.001 BTC, 0.014 ETH, 40 USDT, 30 XRP, and 0.042 BCH for respective cryptos.
• Special trial contract of $125 for new users.
• Track daily earnings in BTC, USD, or Eur.
• Buy hash rate (for a minimum of 10 USD) through Visa, Mastercard, American Express, and crypto deposits.
• Track accepted hash rates.
• Reinvestment of cloud mining from $150.
• Daily payouts.
• The minimum contract is 12 months. The maximum contract duration is 50 months.
• Forecast your earnings and vary your contract to suit a specific forecasted earnings amount.

Verdict: The platform does not support Ethereum cloud mining contracts. For Bitcoin and Litecoin mining, you cannot get a contract for less than 12 months but can run one for up to 50 months.

Fees/cost: Depends on duration – starting at $150/0.96 tH/s for a 24 month contract and reducing to $150 per 0.73 tH/s for a 50 months contract.

Website: ECOS Mining

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#7) Slush Pool

Best for no-fee mining and mining fee rebates when using the Braiins software, and mining farms

Slush Pool supports the mining of Bitcoin and Zcash and currently does not support Ethereum mining or mining of other cryptocurrencies. If you want to mine through the pool, you need to sign up for an account, create a worker, username, register a payout address in the Slush Pool account, and prepare other details needed to set up your mining equipment.

Each of the mining equipment connectable to the Slush Pool has different setup instructions but will need to connect to the pool’s servers using the provided setup instructions. The company’s servers are located in Europe, the USA, Brazil, Canada, Singapore, Japan, Russia, and Kazakhstan.

One advantage of mining with the pool is that you can use Braiins OS+ and pay no mining fees. This is through rebate payments on a per-block basis.

Features:

• Customizable payouts.
• Monitoring mining workers, monitoring hash rates, and getting notifications on their changes. Monitor rewards, balances, and other information about your mining.
• APIs to access your pool accounts without sacrificing security.
• Export mining data through APIs, CSV, and JSON.
• Customized plan for large-scale mining operations.
• Android, iOS, as well as web apps. The apps allow for reward and hash rate monitoring.
• AsicBoot technology lowers minor power consumption.

Verdict: Slush Pool is a more favorable option for Bitcoin and Zcash miners as no Ethereum mining is supported currently. Not only does it offer large mining farms technology to reduce power usage on their equipment, but it also has tools for better remote monitoring of the equipment.

Fees/cost: 2% and a payout fee of 0.0001 BTC or ZEC for payouts under 0.01 BTC and ZEC.

Website: Slush Pool

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#8) Cruxpool

Best for low fees mining with instant payouts.

Cruxpool supports the mining of Ethereum, Bitcoin, Ethereum Classic, Beam, Ravencoin, and ERGO coins. Like Ethermine pool, it features a low fee of 1% but an FPPS/PPS payout plan.

With PPS, every share submitted from your mining device is rewarded. The company also offers a click-and-go setup to eliminate the need for a complicated mining setup for those without knowledge of blockchain and crypto.

At 100 mH/s, you expect to get about $2.4 per day mining Ethereum in this pool. The pool also rewards miners with transaction fees in addition to blocking rewards. Besides, the mining fees are payable based on profit.

To start off mining, simply connect mining equipment, create a username, set a payment wallet address, create a worker and prepare other information needed to set up the mining equipment. Connect the equipment to the pool using mining software and given instructions to watch your rewards flow into the account.

Features:

• Monitor mining on your account using real-time statistics. See expected revenues as per your hash rate and hardware.
• 24/7 support. Mining guides are also provided.
• Dedicated servers in Europe, the US, and Asia.
• Payouts are instant and the minimum is 0.01 ETH, 0.005 BTC, 0.1 Ethereum Classic, 10 Ravencoins, 1 Beam, and 1 Ergo.

Verdict: Cruxpool is also one of the best cloud mining sites with low fees of just 1%.

Fees: 1% on Ethereum and other cryptos except for BTC (fee is 2.5%).

Website: Cruxpool

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#9) TrustMining

Best for miners also interested in crowd loans, staking, and other crypto products.

TrustMining deals in assembling and selling, as well as hosting Ethereum mining rigs. They host and maintain rigs for customers who choose to purchase a rig. A customer places an order for an Ethereum mining rig of their choice. The company will then assemble it in Switzerland, test it, and deploy it for mining as per customer order.

Once the contract is bought, it is time for the buyer to earn income from it. Note that, in addition to the cloud mining contracts on sale, other companies can also buy mining rigs from them for their mining needs.

The customer can in turn monitor the hardware live remotely. They can track data relating to rigs like hash rates and profit generated. They will also start receiving mining rewards from the device 15 days after the operation starts.

TrustMining company was started in 2015 and is based in Switzerland.

Features:

• The company employs 2Miners Ethereum mining pools.
• DDoS protection for rigs.
• Crypto staking to earn interest on holdings (5-8% for Ethereum) and the minimum investment is 5 Eth.
• Pay in crypto and CHF/Euro.

Pros:

• Crowdloans, staking, and stable coin lending market.
• Variable contract terms up to infinite.
• Quite cheap contracts.

Cons:

• Electricity cost, commission, and accommodation fees are charged on hosted mining equipment.

Verdict: TrustMining is also one of the cheapest in the market and also packs in more services like crowd loans, lending, and staking, making it more suitable for miners looking for a more complete crypto ecosystem.

Fees/cost: $15 per 1 mH/s for Ethereum contracts. 30% for hosted Ethereum mining plans. The other fees are 12% electricity costs, 8% accommodation rent, and 10% commission. Rigs cost between $7,416 for a maximum 225 Mh/s to $20,136 for a maximum 720 mH/s.

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#10) Hashlists

Best for quick returns on cloud mining contracts.

Hashlists lets you mine Bitcoin, Ethereum, Dogecoin, Litecoin, and other cryptos on the cloud by buying timed contracts starting for as low as $8 for a daily mining plan that earns $0.8. This plan is also provided for trial where one gets free $8 to start off. The company’s Ethereum mining plan costs $540, lasts for 7 days, and earns $75.6. That’s about a 15% return.

Suggested Read => Will Dogecoin Go Up or Down?

Based in the United Kingdom, Hashlists started in 2020. It only allows users to pay for the plans using crypto, not fiat supported. The minimum withdrawal balance is $100.

Features:

• Monitor earnings and balances from the dashboard.
• Works as a web platform, no mobile app is needed.
• Simple and quick to use and understand.
• No in-built trading.

Pros:

• Low cost compared to buying mining equipment and other cloud mining sites.
• Short-term to long-term contracts are available.
• High payouts.
• $10 daily trial funds.

Cons:

• No in-built trading.

Verdict: Hashlists is one of the most competitive Ethereum mining sites for those looking for quick returns on short-term contracts lasting from one day to a few months. This is considered as most companies price their services on monthly and yearly terms.

Fees/costs: Withdrawal charges for Ethereum are 0.004 ETH.

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#11) Bitfly (Ethermine.org)

Best for efficient mining with a low orphan rate.

Ethermine is a dedicated Ethereum mining pool, although it also supports mining Zcash, Ethereum Classic, Beam, Ravecoin, and Ergo. Its main benefit is a low fee of just 1% but also instant payouts, customizable minimum payment threshold, and a professional helpdesk.

Mining of Ethereum is done by connecting mining devices to the Etheremine pool. They’ve got servers in Asia, Europe, and customers can choose the Stratum server pool.

All a customer needs to do to start mining Ethereum through this pool is to buy a mining device, connect it and install necessary mining software, and choose and connect the device to the pool’s Ethereum mining server of their choice.

Features:

• Third-party pool account monitoring apps including desktop, Android, iOS, and Telegram.
• API for Ethereum pools and other crypto mining pools run by the company.
• Real-time Pay Per Last N Shares payout scheme.
• Instant payouts. The minimum payout is 0.05 ETH. The Layer 2 Polygon payout scheme provides small and large miners access to the Polygon blockchain network.
• Other products like Ethereum staking, Etherchain blockchain, Zchain, Beaconcha, and Ethernods.
• Mining servers in Europe, Asia, and the USA.
• Miners are paid all mining rewards, including block rewards and fees.

Verdict: Ethermine is preferable for those looking for cheap mining firms on the cloud at just a 1% fee on its contracts. It is also one of the most compelling in terms of transaction fee mining.

Fees/Costs: 1%.

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Conclusion

We looked at some of the best cloud mining sites for Ethereum. Contracts for mining Ethereum go for as low as $0.675 per 0.1 mH/s (excluding a daily maintenance cost which is also quite low) with IQ Mining and you can buy for as low as $13. But the minimum depends on your target profits. The pricing for contracts with the companies is mainly based on profitability.

But in the case of having your own mining equipment connected to a mining service, some companies like Slush Pool, NiceHash, and Bitfly are more suitable for mining farms and will have extra miner management features.

Research process:

• Mining websites shortlisted for review: 20.
• Websites reviewed: 11
• Time is taken for review: 20 hours.